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India Today
5 days ago
- Business
- India Today
Father-son duo dresses up water seller as IAS officer to dupe Gujarat businessman
A father-son duo in Gujarat's Mehsana duped a businessman out of Rs 21.65 lakh with the help of a water seller posing as a fake IAS officer. The fraudsters allegedly concocted a story about a Rs 300 crore seizure during an Income Tax raid to swindle the police have arrested the fake IAS officer, while the father and son remain on the to the police, Surat-based Jayantibhai and his son Kaushik Patel befriended local businessman Dinesh Patel. Over time, they exploited his trust by claiming that an Income Tax raid had been conducted at their residence and that Rs 300 crore had been seized. They falsely claimed the funds could only be recovered through court proceedings and asked Dinesh Patel to lend them money to hire a lawyer. To strengthen their deception, the duo enlisted the help of Arpit, alias Rishan Reddy, a water seller from Ahmedabad who impersonated an IAS officer. Arpit contacted Dinesh Patel and, using a script provided by the duo, claimed to be a high-ranking official aware of the alleged tax seizure. He even sent photos of cash to make the story seem credible and urged Patel to financially assist Kaushik and Jayantibhai."I have Rs 300 crore seized by the Income Tax department. Send money to help your friends Kaushik and Jayantibhai in getting it released," Arpit told Patel transferred Rs 21.65 lakh to the conmen under the impression that he was helping friends entangled in a serious legal battle. When no repayment followed, he filed a complaint with the Visnagar police in police investigation revealed that Arpit had no official credentials and was, in fact, working as a water seller in Ahmedabad. He admitted to being paid Rs 80,000 by the Patel duo for making the impersonation calls and participating in the seller Arpit was arrested by the police on Tuesday. Meanwhile, Jayantibhai and Kaushik Patel remain absconding, and efforts are ongoing to trace them.- EndsMust Watch
Scottish Sun
10-07-2025
- Sport
- Scottish Sun
Premier League ‘REFUSE' Chelsea request to move opening fixture with Enzo Maresca's plans in ruin
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THE Premier League have refused to budge when asked if they could change Chelsea's opening fixture amid concerns around the Blues' Club World Cup workload. Chelsea have reached the final of Fifa's new-look club tournament in the USA, meaning they will play their final stateside game this Sunday - just 34 days before their opening Prem clash. Sign up for Scottish Sun newsletter Sign up 3 Chelsea have been told they are unable to move their opening Premier League clash after reaching the Club World Cup final Credit: Getty 3 The Blues have reached the final of Fifa's revamped tournament, where they will play PSG on Sunday Credit: Getty Chelsea take on Crystal Palace on Sunday August 17 to open their domestic campaign, meaning they have just over a month to allow their players a break and to return for pre-season preparations. The hectic schedule, in part caused by the extended Club World Cup, has been heavily criticised and Chelsea have asked for the Premier League to lend them a helping hand, according to The Mirror. It's claimed that the league's chief football officer, Tony Scholes, has insisted that they won't be giving any special treatment to Chelsea or Man City - who also participated in the Club World Cup before their last 16 exit to Al-Hilal last week. The Premier League chose not to comment when approached by SunSport. READ MORE IN FOOTBALL FLYING SHAME Jet 'carrying Guehi to Newcastle' is actually delivering new Sunderland star WATCH EVERY MATCH OF THE CLUB WORLD CUP 2025 LIVE ON DAZN However, SunSport understands that the league feel that the issues of fixture congestion are an example of the challenges faced by domestic leagues as a result of Fifa expanding their calendar. There's growing feeling that the issues are being thrown on domestic leagues when there has been no change to the number of fixtures played in the league season. While domestic cup competitions, such as the FA Cup, have even seen a reduced number of games in recent campaigns following the decision to scrap replays. It has been confirmed that Chelsea's opening fixture against Palace will remain on August 17. 3 CASINO SPECIAL - BEST CASINO BONUSES FROM £10 DEPOSITS Spanish giants Real Madrid, who exited the Club World Cup to PSG in the semi-finals, have also requested to have their opening La Liga fixture moved. Los Blancos are due to play Osasuna on August 19 and The Athletic claim club officials sent letters to La Liga to request a postponement. However, reports have since suggested that La Liga have rejected those requests and the fixture is scheduled to go ahead as planned. Managers at the Club World Cup have been vocal with their concern for what impact the congested fixture list may have on their teams next season. City boss Pep Guardiola said: "I try not to think about it, otherwise I will be so anxious. "Maybe in November, December, January, ask me, Pep. I may say: 'So listen, we are a disaster. We are exhausted. The World Cup destroyed us.' We will see.' Chelsea are in line to earn a whopping £97MILLION in prize money should they win Sunday's final against PSG.
The Star
30-06-2025
- Entertainment
- The Star
Firm donates RM8,000 for Borneo Cultural Fest in Sibu from July 3 to 12
IN SUPPORT of the upcoming Borneo Cultural Festival (BCF), STM Lottery Sdn Bhd (STM Lottery) donated RM8,000 to Sibu Municipal Council (SMC). This year's festival, themed 'The Rhythm of Borneo', will run from July 3 to 12 at Dataran Tun Tuanku Bujang Phases 1 and 2 in Sibu town. Liew (fourth from left) presenting Ting with a mock cheque for Borneo Cultural Festival. The contribution was presented by STM Lottery Sarawak assistant regional manager Henry Liew to SMC chairman Clarence Ting at the local council's premises. Liew said this was the second time the company had supported the festival. 'Last year was our first time contributing towards the BCF,' he told reporters. He added that the donation was part of STM Lottery's corporate social responsibility, as BCF was a community festival being organised by the local council. Ting expressed his appreciation for the sponsorship. He encouraged more companies to come forward to lend their support. 'We are truly grateful to those who have stepped up to contribute to the BCF. 'We hope the companies will continue to support us with even more funding to help organise the festival in future,' he said. Also present at the event was STM Lottery Sibu area sales officer Max Ching Chung Min. — By ANDY CHUA
Euronews
29-05-2025
- Business
- Euronews
Federal court blocks Donald Trump from imposing sweeping tariffs
The ruling from a three-judge panel at the New York-based US Court of International Trade came after several lawsuits arguing Trump's 'Liberation Day' tariffs exceeded his authority and left the country's trade policy dependent on his whims. Trump has repeatedly said the tariffs would force manufacturers to bring back factory jobs to the US and generate enough revenue to reduce federal budget deficits. He used the tariffs as a negotiating cudgel in hopes of forcing other nations to negotiate agreements that favoured the US, suggesting he would simply set the rates himself if the terms were unsatisfactory. White House spokesperson Kush Desai said that trade deficits amount to a national emergency 'that has decimated American communities, left our workers behind, and weakened our defense industrial base — facts that the court did not dispute.' The administration, he said, remains 'committed to using every lever of executive power to address this crisis and restore American Greatness.' But for now, Trump might not have the threat of import taxes to exact his will on the world economy as he had intended, since doing so would require congressional approval. What remains unclear is whether the White House will respond to the ruling by pausing all of its emergency power tariffs in the interim. Trump might still be able to temporarily launch import taxes of 15% for 150 days on nations with which the US runs a substantial trade deficit. The ruling notes that a president has this authority under Section 122 of the Trade Act of 1974. The ruling amounted to a categorical rejection of the legal underpinnings of some of Trump's signature and most controversial actions of his four-month-old second term. The administration swiftly filed notice of appeal — and the Supreme Court will almost certainly be called upon to lend a final answer — but it casts a sharp blow. The case was heard by three judges: Timothy Reif, who was appointed by Trump, Jane Restani, named to the bench by President Ronald Reagan and Gary Katzman, an appointee of President Barack Obama. 'The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs,' the court wrote, referring to the 1977 International Emergency Economic Powers Act. The ruling left in place any tariffs that Trump put in place using his Section 232 powers from the Trade Expansion Act of 1962. He put a 25% tax on most imported autos and parts, as well as on all foreign-made steel and aluminum. Those tariffs depend on a Commerce Department investigation that reveals national security risks from imported products. It was filed in the US Court of International Trade, a federal court that deals specifically with civil lawsuits involving international trade law. While tariffs must typically be approved by Congress, Trump has said he has the power to act to address the trade deficits he calls a national emergency. He is facing at least seven lawsuits challenging the levies. The plaintiffs argued that the emergency powers law does not authorize the use of tariffs, and even if it did, the trade deficit is not an emergency because the U.S. has run a trade deficit with the rest of the world for 49 consecutive years. Trump imposed tariffs on most of the countries in the world in an effort to reverse America's massive and long-standing trade deficits. He earlier plastered levies on imports from Canada, China and Mexico to combat the illegal flow of immigrants and the synthetic opioids across the U.S. border. His administration argues that courts approved then-President Richard Nixon's emergency use of tariffs in 1971, and that only Congress, and not the courts, can determine the 'political' question of whether the president's rationale for declaring an emergency complies with the law. Trump's Liberation Day tariffs shook global financial markets and led many economists to downgrade the outlook for US economic growth. So far, though, the tariffs appear to have had little impact on the world's largest economy. The lawsuit was filed by a group of small businesses, including a wine importer, V.O.S. Selections, whose owner has said the tariffs are having a major impact and his company may not survive. A dozen states also filed suit, led by Oregon. 'This ruling reaffirms that our laws matter, and that trade decisions can't be made on the president's whim,' Attorney General Dan Rayfield said. Oregon Sen. Ron Wyden, top Democrat on the Senate Finance Committee, said the tariffs had "jacked up prices on groceries and cars, threatened shortages of essential goods and wrecked supply chains for American businesses large and small.″
Business Times
26-05-2025
- Business
- Business Times
India's central bank seeks approval for overseas rupee lending: sources
[NEW DELHI] India's central bank is taking another step to internationalise the rupee, seeking approval to allow domestic banks to lend the currency to overseas borrowers for the first time, two sources said. The Reserve Bank of India (RBI) has asked the federal government to allow domestic banks and their foreign branches to lend Indian rupees to overseas borrowers to enhance the use and acceptability of the local currency in trade. The proposal, which was sent to the finance ministry last month, suggests lending in rupees to non-residents can begin in neighbouring countries such as Bangladesh, Bhutan, Nepal and Sri Lanka, the sources said. If successful, such rupee-denominated lending could be extended to cross-border transactions globally, one of the sources said. According to Ministry of Commerce data, 90 per cent of India's exports to South Asia were to these four nations in 2024/25, amounting to nearly US$25 billion. Currently, foreign branches of Indian banks are restricted to providing loans in foreign currencies and such loans are extended mainly to Indian firms. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The sources declined to be identified as the discussions are confidential. E-mails sent to the Finance Ministry and the RBI requesting comment did not receive a response. The central bank has been taking steps to increase the use of the local currency in global trade and investment. As part of the strategy, RBI recently permitted the opening of rupee accounts for non-residents outside India. Earlier this month, Reuters reported the RBI has sought government approval to remove the cap on foreign banks with so-called vostro accounts buying short-term sovereign debt, to boost rupee-denominated investment and trade. The RBI will open the foreign loans in rupees only for the purpose of trade, the sources said. Currently, rupee liquidity is provided in other countries only through a limited number of government-backed credit lines or bilateral currency swap arrangements. 'The objective is to reduce dependence on such arrangements and instead allow commercial banks to provide rupee liquidity on market terms,' the first source said, citing a communication from the central bank in April. The second source said enabling easier access to rupee-denominated loans will help facilitate trade settlements in rupees and reduce exposure to foreign exchange volatility. The government has received several requests from financial institutions to support strategic projects through rupee-denominated financing, the second source said. India's experience with local currency pacts with the United Arab Emirates, Indonesia, and the Maldives, as well as Special Rupee Vostro Accounts used for trade with Sri Lanka and Bangladesh, has underscored the need to deepen the availability of rupee liquidity, the source said. If implemented, the policy would mark a major step towards integrating the rupee into the global financial system, positioning it as a more widely accepted currency for international trade and investment, the second source added. REUTERS
